Welcome to @barmstrong, co-founder and CEO of Coinbase! He’s kindly agreed to do an AMA. Reply with your questions. :)
I would love to completely move my bank to a crypto friendly bank in EU. Would you consider to obtain a bank license instead of only crypto license ?
Why are you interested in Flatcoin? Do you believe it has the potential to replace fiat currencies and achieve widespread adoption as a cryptocurrency in the real world?
Hey Brian! How optimistic/pessimistic are you on the US getting regulations right on us being able to unlock all of the use cases on crypto? If you were a starting a company today, how would navigate your business/product through this?
how have @fehrsam and @dwr.eth changed since you met them? how are they the same?
A: How do you think about the threat to crypto posed by status quo elite institutions who are (rightly) worried about the emancipatory aspects of the technology? Are you optimistic we can win? What does winning look like?
Q: How do you think about the threat to crypto posed by status quo elite institutions who are (rightly) worried about the emancipatory aspects of the technology? Are you optimistic we can win? What does winning look like?
Very interested in your idea about building a compliant wrapper for ICOs. I looked into using Reg CF as a framework for getting this jumpstarted but there are so many KYC hoops to jump through I got a bit overwhelmed. Wondering if you have any suggestions for outsourcing these KYC processes. Thanks!
what is the next milestone on Coinbase roadmap that excites you personally the most?
What's your most favorite socialfi dapp on base? Basepaint, freindtech, or something else?
Mr. Armstrong, thank you for the opportunity and for coming. Living in 🇮🇹, I would be curious what are your current and future plans for possible Customers here in the EU. And, probably gut feeling, do you feel more welcome to Europe (as in, regulation, such as MICA) than "back home"?
@barmstrong Do you think cryptocurrencies and blockchain technologies have a role to play in creating peace? Will these technologies have an influence in mediating, diffusing, and/or exacerbating tensions that seem to be rising?
what's your morning routine and what time do you usually get-up? @barmstrong
What is your long(er) term plans with Circle? Do you have plans for “deeper” integrations?
Hi Brian, hope it won't be necessary but would you ever consider relocating Coinbase to other country if bad-regulation prevails in coming years?
You are working in a fast-paced industry. What do you do in your free time to slow down?
What are the most important things that need to get done in terms of US crypto regulation in the next year?
What are your thoughts on on chain identity. Do you think it could be the next big killer use case
@barmstrong Could you share your insights regarding the future of onchain B2B transactions?
The cyclic nature of crypto makes it *incredibly* challenging as a founder given just how much volatility there is in usage/growth. @barmstrong how do you know when to maintain conviction on your original thesis/idea vs. making the choice to pivot due to a lack of signal/growth?
trying out screenquestions, feedback appreciated. how do you feel about coinbase wallet, given the recent wallet meta?
Hi Brian! Thanks for taking the time to do this. What are your thoughts on AI + blockchain? How do you think these fields could positively reinforce each other?
What keeps you up at night in a professional (I.e., Coinbase) and personal context?
why i still can’t pay with usdc on stripe checkout?
@barmstrong crypto(currency!) has seen little adoption as a payment method, even within crypto natives. Stablecoins seem like the natural way forward, my theory is that the current experience is still worse than fiat and do see adoption it needs to be better than fiat. Curious on what you think is holding us back?
@barmstrong what's one piece of advice you'd give to 2012 you about being a great CEO?
What up Brian I know you've thought a lot about scientific research and how the process could improve (e.g. ResearchHub). (1) What about scientific research did you initially think was broken that is, in fact, broken? (2) What did you think was broken that is actually fine (perhaps to your surprise)?
If you were starting a company from 0 again, what company would you start?
Do you remember when you used to give whole bitcoins out to get people to sign up for Coinbase? I was one of those people. Thanks!
How would you weaponize crypto infra to best influence soros-style minor municipal, state etc elections in the US?
You're over a decade into Coinbase—what keeps you motivated?
people often comment on your superhuman ability to remain calm under pressure. have you always been that way? or do you cultivate it through deliberate practice? suggestions for building that skill?
switching things up with a longevity and healthspan question :). what were the defining moments or experiences that compelled you to co-found NewLimit? and what about NewLimit's early beginnings* remind you, if at all, of early Coinbase? *knowing you're a board member and not actively involved in the day-to-day
thinking beyond the CEX first product, what is the % contribution of sequencer fees to the long term revenue and margins of Coinbase?
What did you ship that had the most impact on growth? Also what what did you ship that you are most proud of
What is something that you were initially skeptical of but ended up doing a 360 and becoming an advocate for?
When Coinbase filed its S-1, I was simultaneously amused and mind-blown that the company put "Address Not Applicable" in there, as a remote company. Now two years in, I'm curious: - What do you like most about operating a remote company? - What do you like the least? Thx for doing this! 🙌🏼
If Planet Finance - a Defi project, wants to build on Base, what kind of incentive it may receive and how to apply for the grant fund?
The documentary "COIN" was a compelling and entertaining insight into how you started Coinbase and ran it for a decade. Are there any plans for a "sequel," if you will, that will cover the regulatory battles with the SEC over the last couple years?
@barmstrong what are industries do you think where crypto can change business models due transformation in technology use, and what are some industries that you think will be unaffected by crypto
Balaji used to say that what the internet was for free p2p transfer of information, crypto was for free p2p transfer of value. Considering Farcaster, how should developers think about crypto's role in info-oriented applications/protocols?
Do you find it important to revolutionize the banking system? From a piggy bank (secure assets) perspective or from a credit formation (cap table) perspective
I appreciate Coinbase's public policy leadership in the US. At least so far, it seems crypto policy is not politically polarized: there are progressives and haters in both parties. How can we keep it that way?
What your top learnings navigating coinbase through this last market cycle?
Well helllooo 👋 I’ll play! If you could go back in time and establish Coinbase as THE leader in a single market/domain you’re not currently leading in (idk.. social, charitable giving, gaming, retirement, etc) - what would it be?
How do you balance continually steering into humility while everything else around you pulls you in the other direction?
what are your thoughts about the latest EO regarding AI, the priority it places in coordination between federal agencies, and the arbitrary cap on FLOPs? how do you perceive crypto's regulatory regime given this reaction? what's the best bridge for developers that have prioritized precautious foreign-first approach?
Hey Brian, been a while since my days at CB so not sure if you remember me. I’m curious to hear what your feelings are towards privacy preserving coins that still work with KYC/Compliance? Any chance of ever listing those?
Besides Coinbase what project are you most excited about in the crypto space?
Hey @barmstrong! Does Coinbase have any plans to move into the traditional banking sector. As a long time customer of Coinbase, I'd love a reason to leave Chase for legacy business and personal accounts.
Please please make a Coinbase Prime light version dedicated to businesses. With Circle restricting account creation, it is now literally impossible for a business to offramp USDC without paying 25 to 50bps. Incredible opportunity for Coinbase IMHO 🔥
@barmstrong How likely are we going to see acceptance for cross border payments? Do you think SWIFT will adopt crypto or will get replaced by it?
What will you tell someone who’s looking to solve a problem in crypto within the DAO space.
when are you going to list the new memecoin that’s consistently been doing top 20 volumes across all crypto for the last 6 months and why haven’t you
why hasn’t PEPE been listed yet? I really want to store and trade on there and have lots of friends who want to buy PEPE but only trust Coinbase.
@barmstrong safe to assume you like Farcaster... what do you think Farcaster is doing right?
What did you tell yourself to keep going as you hit obstacle after obstacle in the early part of getting Coinbase of the ground (YC app, cofounder issues, etc)?
What are your most important considerations when hiring someone? Any favorite interview questions that are particularly high signal?
@barmstrong Happy Friday Coffee the IRL bottle or the Based mint? https://www.happyfriday.coffee/
What historical company / organization is coinbase most like, or most modeled-after, and why?
Do you think there is space for more layer 1s? Does it matter if they are faster, smarter etc?
how are you doing brian? (health, well being, etc). anything in particular that's been helpful lately?
What are your thoughts on DAOs? What can traditional companies learn from the DAO model? What can DAOs do to improve their inefficiencies?
How is Coinbase impacting public goods in a positive manner? How important are they to the overall vision and goals of Coinbase?
What's the biggest lesson you've learned dealing with DC that founders in other industries facing regulatory headwinds can learn from?
@barmstrong - If you were starting a web3 company today, would you start it in SF?
Brian — appreciate everything you’ve done for the crypto ecosystem. Curious if you internally believe for revenue over “crypto rails” (eg Base, CB wallet, etc) to overtake “tradfi rails” (retail, prime, institution) within the next 5 yrs?
@barmstrong How do you respond to people (Bill Gurley) who accuse you of regulatory capture re: crypto regulation?
What do you think is the most positively impactful change you could make at Coinbase, if you could go back in time?
@barmstrong What are you reading right now? And top 3 books that's been life-changing for you? Thanks for doing the AMA!
hey @barmstrong been a while 👋. Have you seen any progress with your non-profit initiatives that use crypto? I remember a long time ago CB had some efforts in place in Venezuela and elsewhere, is there a blog post or update on that or have those efforts mostly stopped?
Will you and Coinbase make a video centric Farcaster client, pro bono, so we can stop begging Dan?
Hi @barmstrong! You’ve reiterated multiple times on twitter the desire for low fee, sub-1 second txs for stablecoin payments. With Solana having already achieved these UX metrics and now garnering so much attention, could you expand on why you’ve chosen to go a different direction?
@barmstrong do you think a Libra-type project, governed by social + other tech companies, could be executed successfully today if done by companies other than Meta? Esp due to the growing popularity of stables/flatcoins
How long do you think will it take for crypto space to be sufficiently regulated?
How many folks do you interact with that have never interacted with crypto or block chain tech? What's your first thought when you encounter them?
What do you believe will bring the next wave of web3 adoption, gaming, social media, finance, or something else? If a combination of these ranked in order of importance.
Knowing what you know now, if you reversed the clock 10+ years, do you think you would start Coinbase again? Or would you pick a different problem?
We talk about regulatory uncertainty a lot. Concretely, what would a cohesive regulatory framework for crypto in the US unlock? How would it change Coinbase’s business?
10 years out, are people still using centralized exchanges to trade crypto against crypto? (And why?)
Outside of finance what are the biggest Crypto/Blockchain use cases in your eyes?
Could you provide a vignette on what successful Base chain look like to you? Also, hey @barmstrong, thanks for operating with integrity throughout the years.
Honestly do you think a project development network / open innovation community is a good project to be working on?
If CBDC eliminates the usefulness of CB as a fiat bridge, what will you do next?
Koreans have been blocked from accessing Coinbase. Will there be a way for Koreans to access Coinbase in the future? Korea is an important country in the coin market.
@barmstrong I’m a college student studying computer science at UNC. I’m a Web 3.0 developer and have built a bunch of side projects on top of technologies like base and circle. My question was what is the labor market predictions for developers in crypto. When do you see Coinbase hiring New Grad Engineers next?
Thanks for doing the AMA Brian. What’s the most important thing in an early stage hire? (Under 10 people)
Are you the man, the myth, the legend ethmoji collector known as “Golden Bezos”? (Failure to deny will be interpreted as acknowledgement that you do control 👨🦲.eth)
How did you come up with the name Coinbase and what were some alternative names?
@barmstrong are you planning to extend the supported cryptocurrencies for payments (commerce)? A lot of “payment coins” are not supported. What are the limiting factors there?
What are your view concerning A.I and blockchain, how can it shape the crypto space and also expand the security aspect of getting hacked by scammers.
In a similar vein to the Capitol Hill money truck stunt, an IRL activation - what grassroots/guerrilla marketing campaign can Warpcasters/ individuals do to make a statement?
@barmstrong curious to know how it all started. Did the idea just pop into your head? I.e. (Coinbase) is something the world needs? How did you start your journey and how many people told you you were a fool to pursue this dream?
@barmstrong Why have you implemented Base network on Optimism Superchain I can't see much of a difference between them, do you have any plans for decentralization of the other products as well?
Hey Brian! @barmstrong Is there anything you recently changed your mind about? What was it and what caused you to update that belief?
Hi @barmstrong it's a great opportunity to have you here. If you're to give a young man like me a piece of advice about Crypto, what aspect of the space would you suggest I explore to contribute and make the most of it?
@barmstrong welcome! Any plans for adding NFT gift cards this holiday season? Low concern I imagine but it’s fun.
What were the biggest mantras in the first year of Coinbase that kept you and team focused and energized?
How into your DeSci project are you? It’s a big big big problem to solve, with lots of nuance, as you know. Will web3 incentives be enough to change culture
Hey @barmstrong greetings. What will be the use case for based nft? Which we got after the onchain summer event . Any hints or something?
Brian, so good to have you here! What are your thoughts on nuclear energy? ;)
Would you be a compliance partner for your clients using DeFi services? ie You do the compliance, they do the DeFi txn (you get a fee).
Given the past boom/bust cycle, Is abandoning the term “NFT” a good idea for the industry? At least for optics, for mainstream adoption of a blockchain powered product or service…
Outside of work - what would be your 3 favourite (non-US) places/countries to live?
Brian is good people. He protected my btc for 9 yrs while I did other things. good guy Brian.
Hi @barmstrong, i just want to thank you for the free money your platform is giving away via small tasks. That really helps us learn and earn. Have a good day.
@barmstrong what do you think current social networks fundamentally got wrong ?
Curious what your plans are for new bitcoin features, like ordinals/inscriptions and taproot addresses?
when did you know coinbase was going to work? was it before or after the 2017 growth?
@barmstrong thanks for the ama! What is the best payment experience you’ve seen in crypto? Do you think encryption / privacy will be important for payments?
You’ve been over a decade in Coinbase, how did you manage the transition from an engineer founder in a startup to the CEO of a public company, and what do you miss the most from the early days?
what is your ideal way to spend a Sunday? or your favorite way to spend your very limited spare time?
Hi @barmstrong , your public stance on the workplace being a place to work and seperate from social issues was polarising. IMO an extremely brave thing to have a public stance on. Would love to hear more thoughts,ideas on how corps can define net positive goals that still have value aligned social impact.
Thanks for doing the AMA, @barmstrong! How do you envision ResearchHub enabling basic science research (vs. applied science) that may lead to revolutionary progress? One major issue in the sciences is lack of funding for foundational work that lacks clear applications, but that’s where most major discoveries start.
Twitter, Farcaster, Nostr, Mastodon,… What is your take on current state of social media? Where are we heading? Thanks!🙏
What roadblocks to crypto adoption do you feel could benefit from more public discussion on X / FC? Another way to ask this is - what makes you most worried about broader adoption, but not many people appreciate, know or talk about?
Will you guys ever consider releasing an SDK for releasing your own games and apps in a way that utilizes the BASE protocol? I would love to see something like templates for popular engines like Godot, Unreal, or Unity.
What other industry should folks in crypto study deeply and draw more insights from to then reapply to crypto?
What do you think the industry is under-indexed on / what could it be thinking about more?
Should startup founders in DeFi “move fast and break things” before navigating regulatory uncertainty?
Welcome! <3 Not a question, but wish you all the best for your future. Really glad to have you here :) Thanks for what you amd Coinbase are doing for the industry!
@barmstrong what about the future of crypto do you think will surprise us the most?
Have plans of attending any event and doing sponsorships for ex F1 or something else DM if your able I'll send potential possibilities if you would assist a consultant for the brands of the future minority owners who are currently working on DEI. & Would you add to DEI? Close the gap?
Since you've been in the industry for this long, you undoubtedly had some thoughts on uses for NFTs before art became the most popular one. What are some NFT use-cases you thought we'd see in the crypto mainstream by now?
how does the industry overcome the negative stigma that had materialized around DeFi. it’s sticky.
What are your thoughts on decentralized identity and how could you imagine Coinbase helping to promote their use across its vast ecosystem?
What words do you say to yourself in a moment of despair when the situation seems hopeless?
What do you think about Defi in the future? How's the idea of building a Defi ecosystem using Bitcoin as the core foundation to maximize users' portfolio profit?
When coinbase alum NFTs? Stock HODLer NFTs? Token gated Coinbase guild? Regulatory compliance hair loss club?😉 On a serious note I miss being at Coinbase. Kinda feels like Farcaster is becoming that alum club but something official would be dope. 😁 Keep up the awesome work Coinbase and everyone here🫡
@barmstrong with exchanges saturated & institutional $ (hopefully) providing enough revenue to stabilize that section of the business, which industries/markets/use-cases/opportunities, etc. Do you think are ripe to achieve growth for Coinbase? Shopping interface discussed at eth Chicago was v intriguing. Ty devs 🙏
@barmstrong what excites you more: heavily-regulated crypto space and 1b users or 100m users and no governance involved?
As airdrops continue to saturate the cryptoverse, what do you think we need to do to make them a valuable part of onboarding and more importantly retention of users beyond the airdrop?
How does your company balance innovation and regulatory compliance in the rapidly evolving crypto space?
Hi Brian - Love how you all are investing in decentralization. I'm curious how you're thinking about digital identity and one individual having multiple wallets in the future, especially with embedded wallets on the rise from @dynamic and others. How will we link these and where are you investing right now?
Which parts of crypto's public reputation in the US are well-deserved, and which parts aren't? Does the answer change outside the US?
How does your company balance innovation and regulatory compliance in the rapidly evolving crypto space?
Hello @barmstrong. Given that Coinbase is a remote/decentralized company that operates in the US, and the US is undergoing a high level of political turmoil and a debt crisis, is there a contingency plan to keep Coinbase operational in the event of a collapse?
❓can you share the two most defining decisions in your journey as cofounder of coinbase? P.2 🚠 ❔how have you grown in handling those types of decisions since?
How do we get a critical mass of US merchants to adopt something like L2 USDC payments at points of sale?
Can you share insights into your company's approach to decentralized finance (DeFi) and how it's shaping the future of finance?
Hi @barmstrong, what role do you think DAOs will play in the future of web3? Would every c-corp eventually be a DAO? Or are they more of a niche?
In a world of constant technological advancement, how does your company stay ahead of the curve in terms of blockchain technology and its applications?
What are the key challenges you foresee in scaling a crypto company to the next level of growth, and how do you plan to overcome them?
is is the plan for Base to eventually become the main data and settlement layer for all Coinbase operations?
How do you see the intersection of blockchain technology and artificial intelligence impacting the future of your company's products or services?
How do you approach issues of security and privacy in a space where trustless transactions are fundamental to the technology?
hi brian, do you have a browser wallet installed and do you use it occasionally? what for? also what‘s your fav meme also what do u think of the bald meme
What innovative use cases or applications of blockchain technology do you believe have not yet been fully explored, but hold significant potential?
The bull gets everyone drunk until complete blindness. Individuals and corporations alike. What's the biggest drunken mistake Coinbase did last bull market and why is it a NFT trading platform?
How do you see the socio-economic implications of widespread crypto adoption, and how does your company aim to address or leverage them?
Hey @barmstrong 👋 What’s one Coinbase product that you had high expectations for, but didn’t end up performing as well as you’d have hoped?
@barmstrong can you pls refer our application for Clustr.io through YC or CSS, we’re growing but need to grow faster. Was watching your interview with Garry yesterday. Go Team Human!
hey @barmstrong in your request for startups you mentioned a gig/grant platform do you think this has market value? platform where: investors share ideas, builders compete based on proof of work, and best one wins based on progress made via incentivized community voting sent in milestone based grants / funding
What is your vision for the role of cryptocurrencies in the broader financial ecosystem, and how does your company contribute to achieving that vision?
What steps is your company taking to ensure accessibility and inclusivity in the crypto space, particularly for those who may be unfamiliar with blockchain technology?
Thoughts regarding the slippery slope of regulation and navigating the accusations of regulating a victory from pro and anti crypto and the obfuscation that’s happening by commentators (especially maliciously)? Also do you feel any temptation with a multipolar world meaning US regs might be more ignorable in future?
what’s your opinion on web3 based proof of personhoods? @barmstrong https://warpcast.com/ambesh/0xeb4bb1a2
What's the plan for promotion farcaster in web2 world, we need to users simply use this amazing app and knowing about web3 through farcaster
What will catalyze the daily use of crypto among consumers, making it as "normal" as traditional finance? Reduced technological costs, more developers, a significant cultural shift, or a synergy of many factors?
Many founders and leaders in crypto are cb alum. How does that make you feel?
@barmstrong Are there any components in the crypto ecosystem that you wish were more of a public good than they already are? (Perhaps pieces that are too centralized? Or outright missing?)
@barmstrong what advice would you give to newer DeFi protocols pre-PMF?
The cost of crypto compliance has gone stratospheric and is draining crypto startups. Coinbase has accumulated a wealth of legal advice and know-how over the years. If there was a way to monetize this corpus for the benefit of Coinbase while helping startups, would you consider it?
Any thoughts on hardware/TEE-based cash like Mondex or Rohan Grey's eCash Act?
curious how long until you think can buy Index products on coinbase? i would love to automate my purchase of DPI or other indexes
You have years of experience leading a massive organization, are there any lessons that could be applied to innovating beyond coin holder voting to improve onchain governance?
Were you able to get the all-in guys to register ENS names when you talked to them at the all-in summit?
Why do you think this space has been so slow to recognize that Biden/Warren are literally trying to criminalize the entire industry.
@barmstrong how significant is self-custody to you on a personal level? Looking ahead 5 years, what % of your net worth do you anticipate self-custodying?
As a builder, what are some of the things you're excited to see how they shape up in the future, both in the context of web3 and non-web3 technologies?
Why do you agree to do the AMA? Is it because of a friendship with dan?
Ooooo gutted I missed it 😔 jiu-jitsu training takes over on Wednesdays 😁
@barmstrong Why did you choose to completely ignore the collection '1337 Brians' that was launched during onchain summer on Base? A collection dedicated to you, made by over 30 people, fully onchain & cc0, with endless traits and awesome art. I don't know how many people we brought over to your L2, but it was a lot!
Hey Brian, really specific but does Coinbase use any openly available threshold signature library? Looking for one myself that’s not Binance’s; I saw you have AMIS’s Alice, is it production ready, or are you using something else?
@barmstrong What is your perspective on the L1 and L2 markets (e.g is Ethereum a clear winner and will we see similar results in the L2 space)? How has that evolved since the launch of Base?
what applications of crypto most excite you in the 1-2 year time horizon?
@barmstrong Why did you choose to completely ignore the collection '1337 Brians' that was launched during onchain summer on Base? A collection dedicated to you, made by over 30 people, fully onchain & cc0, with endless traits and awesome art. I don't know how many people we brought over to your L2, but it was a lot!
Hey @barmstrong , Is there a plan for Coinbase to acquire prominence in Spain? 👍 🧐
What's your POV on "far protocol thesis"? Have you seen any particular areas - apart from CEXs, DEXs & wallets - where consumer apps can generate & capture a lot of value?
Appreciate you fighting the good fight when it comes crypto regulations in the U.S. 🫡 What are you most optimistic about based on Coinbase’s efforts thus far, and what advice would you give to current or future crypto founders when it comes to navigating legal jurisdictions?
gm @barmstrong, big fan, watched your documentary exclusive screening, was dope my q, do you believe there needs to be more focus and incentives behind fully permissionless DeFi and how important do you believe cryptonative permissionless credit generation is to the industry
What is the potential of public chains in Web3, and how important is it for Base to support ecosystem projects in an equitable manner?
Hi Armstrong, what are the core values that keep Coinbase moving through the toughest time of crypto?
What are key benefits of Base using OP stack? Why didn't you choose some other solutions like Polygon CDK or ZK stack?
Do u see coinbase ever getting into decentralized cloud services? Operating nodes in networks like chainlink, storj, golem, etc?
welcome. Looking forward to hear more about Coinbase plans to provide services outside USA & EU. I think you started with the toughest task at hand, you can probably reach mass adoption faster from the outside in.
How come base will develop in the future? Tons of L2 await to be defeated
Why did you choose the traditional IPO route and not an ICO / token launch / more web3 approach? And how do you think being a publicly traded company (approved by SEC) has helped advance education to SEC & regulators? Thanks Brian! Love seeing you here on this platform!
What is your strategy to make base the choice of developers or builders to develop or compete with other L2 networks?
-Is life always this hard. Or is it just when you\'re a kid? -Always like this.
Whats your best strategy to establish valuable cross platform partnerships in defi?
When was the last meal u had with Fred Erhsam and what did u two have?